The flagship scheme of the central government, Pradhan Mantri Kisan Samman Nidhi (PM KISAN) has completed its two years on February 24, 2021.
Highlights
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The PM-KISAN Scheme was formally launched by Prime Minister, Narendra Modi, on February 24, 2019.
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The scheme was launched at Gorakhpur, Uttar Pradesh.
About PM KISAN Scheme
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The scheme was launched with the objective of PM of augmenting the income of the farmers by giving all the landholding farmer’s family an income support all across the country.
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Under this scheme, an amount of 6000 rupees per year is transferred to the bank accounts of farmers directly.
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This amount is transferred to them in three instalments of 2000 rupees.
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This scheme was initially launched to provide income support to all Small and Marginal Farmers’ families who are holding the cultivable land up to 2 hectares.
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Later, the scheme was expanded to cover all farmers’ families irrespective of the size of their land holdings.
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However, Affluent farmers have been excluded from this scheme.
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Till date, more than 1 lakh 10 thousand crore rupees have been transferred to the farmers’ income.
Background
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The scheme was announced by Piyush Goyal during the Interim Union Budget of 2019 and was formally announced on February 24, 2019. It has cost ₹75,000 crore per annum. The scheme came into effect from December 2019.
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This scheme was first conceived and implemented by the Telangana government as “Rythu Bandhu scheme”. Under this scheme, certain amount is given directly to eligible farmers.
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The scheme also received support from various organisations including the World Bank for its implementation.
Rythu Bandhu scheme
This scheme is also called as Farmer’s Investment Support Scheme (FISS). It is a welfare scheme that provides direct support to farmers investment for two crops in a year. Under this scheme, the Telangana government is providing 58.33 lakh farmers a support of ₹5000 per acre per season twice in a year.